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Now I actually prefer to file later for several reasons. There may be some downsides to filing taxes later or close to the deadline. My tax situation has gotten more complexMy tax situation has gotten way more complex over the years. I appreciate having the time to shift our focus to taxes later on. This option is readily available should I ever need it, and there's nothing to feel bad about if I fall behind when preparing to file taxes.

Instead, he made the choice to work for three more years to add to his retirement savings. Later, his company gave him the option to switch his retirement savings to a 401(k) account. His attention to detail made him more aware of his retirement savings and careful about spending it. He says his approach to retirement is a delicate balancing act between inflation, interest rates, and savings. He's been reviewing the monthly changes in inflation rates and the consumer price index.

Because I got a tax extension, I was able to work more closely with my CPA and go over all my questions. Those extra months to save made a difference, and I was able to shore up funds to pay for both my corporate and individual tax returns. And since I work with a tax professional, they usually require that I submit all my financial statements and tax documents well before the mid-April deadline. In fact, I usually need to pay quarterly estimated tax returns, plus I usually owe state and federal returns each year. While I don't recommend doing anything last-minute or late, filing my tax returns in mid-October last year did have some unexpected perks.

Since then, the ways we work have shifted dramatically, and it's time for retirement to catch up. Small businesses are less inclined to provide retirement plans. There are seasonal workers, gig workers, freelance workers, independent contractors, and recognition of the work of caregivers. The pension system and other retirement plans need to address the inherent inequities of previous centuries. Most large corporations still offer sponsor retirement plans, but many employees aren't eligible because of years of service and vesting requirements.

When it comes to filing taxes, people "can get caught in a thought loop and often overthink in these situations," Dr. Moss says. Others are stressed about the strict deadline for filing taxes. Tax stress can spill out into the rest of your lifeKol explains that this stress often makes late filers "want to stay far away from taxes." The stress of filing late can spill over into other parts of life. "At the end of the day, filing taxes is emotional for some people, and that's something that I have an understanding of from working with my clients," she says.

This week, a reader's husband doesn't think the cost of a gym membership is a good use of money. The main extra we are fighting about right now is a gym membership. This shared responsibility often means shared debt, shared costs, shared sacrifice, and shared indulgences. But what shared finances don't necessitate are shared financial priorities — even if it might be easier when they align. Your husband's part of this compromise will mean making the commitment now to celebrate your last credit card payment by purchasing a gym membership for you at a nicer gym.

About a quarter of Americans waited until the last two weeks to file their taxes last year. You can create a plan to file early next year with a schedule and an organization system for your documents. Editor's Rating 4.2/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.6/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Learn more On TurboTax's website Learn more On H&R Block's website Learn more On Tax Slayer's website1. You'll want to begin gathering documents related to your taxes all in one place throughout the year. "Half the battle when it comes to preparing your taxes is rounding up all your tax documents," said Allec.

Filing taxes may not be the most exciting part, but it's important to understand how marriage affects your taxes. Avoid any potential surprises come tax season with these essential steps for filing taxes as a newlywed. Editor's Rating 4.2/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.6/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Learn more On TurboTax's website Learn more On H&R Block's website Learn more On Tax Slayer's website1. Filing jointly can potentially increase the monthly payments if one spouse is enrolled in an income-driven repayment plan. However, if you don't have the means to do that, Lee recommends comparing your options with tax filing software to find which filing status offers the largest refund and the lowest tax liability.

The Federal Reserve has raised interest rates repeatedly since 2022, and that makes credit card debt expensive. With debt balances at $986 billion, Americans will pay $45 billion more in interest than they would have. Black and Hispanic Americans are more likely to have credit card debt than white Americans. At the beginning of 2022, the average credit card interest rate was 16.17%, according to the Board of Governors of the Federal Reserve. Ways to take control of your credit card debtIf you find yourself with large credit card debt, it's a good idea to pay it off quickly.

A large part of the discrepancy between my advice and my parents' comes from the recent tectonic shift in the college landscape. In light of these changes, here is the educational advice I am giving to my children. Most of our dreams cost money. In fact, students in 7% of college majors would be better off financially if they had skipped college and gone straight into the workforce. I tell my children that they don't necessarily need college to have a career — but they do need an education and a plan.

Diverse hiring helps life insurance companies connect with underserved communities. Life insurance companies are focusing on community and product development. Many of the largest insurance companies have historically denied Black applicants, given them lower-value life insurance than white applicants who paid the same amount, and engaged in other discriminatory activity. Research from William G. Gale, a Brookings Institution economics expert and co-author of "Racial Discrimination in Life Insurance," found that while Black families were 3% more likely than their white counterparts to have a life insurance policy, the differences in inheritances (often including life insurance payouts) accounted for 10-20% of the wealth gap. Aside from eliminating blatantly discriminatory underwriting, Guardian Life has opened the door to life insurance for people with HIV.

On TikTok, trans adults and supportive parents of trans youth have spoken emotionally about the heartbreaking decision to move. I moved to 3 major cities, each time with $400 or less in my pocketIn 2010, I moved to Chicago for college at 19 years old. Five years later, in 2015, I moved to New York City with no job, housing plans, or savings. Call LGBTQ organizations in your desired state to find housing supportMany LGBTQ organizations across the country, like the Los Angeles LGBT Center, offer social services and housing for people experiencing homelessness or housing instability due to these anti-trans bills. When you arrive to your destination, connect with local LGBTQ organizations or organizations that help the unhoused in that city.

If you're planning to travel this year, travel insurance can help protect the cost of your trip. Travel insurance is non-negotiable for me, but I believe it's also important for the average vacationer. Travel insurance is often overlooked in the excitement of planning travel, but forgetting travel insurance can be costly. You won't realize how important travel insurance is until you need to use it in an emergency. Unless you've purchased specific coverage, travel insurance generally won't cover canceling a trip due to fear of travel or changing your mind.

It's usually better to not highly prioritize paying off your mortgage versus saving for retirement. It's important to consider the type of debt and consider whether you should prioritize paying off debt or saving in the final years before retirement. You'll want to list out each of your debts, the interest rate, and monthly payment amount. If your investment return is lower than the interest rate on your debt, then prioritizing debt payoff makes the most sense. If you have less than $375,000 saved across your various retirement accounts, then you will want to heavily prioritize your retirement savings.

Setting long-term financial goals becomes easier for women as pay transparency increases. On average, Payscale's Gender Pay Gap Report shows that women are paid 83 cents for every dollar that men make, a gap that becomes even wider for women of color. Because this information hasn't been widely accessible in the past, a lot of women might not even know they are getting paid less. A woman's pay gap often compounds over the years, starting with the salary she takes for her first job. For most people working at a company, they have no idea how much the people around them are getting paid to do the same job.

Having a disability in the form of mental illness has shaped my husband's and my financial life in almost every way. We have been fortunate over the years with jobs, health insurance, access to doctors, medications, and the ability to plan for unexpected emergencies like hospitalizations. Our decision to invest in life insurance for my husband is a choice we made based on my disability. Disability affects the big picture aspects of my lifeWe also have to make long-term financial decisions based on my condition. Having a disability makes having and keeping your finances in order simultaneously more important and more difficult.

I had very limited access to financial support for college, so I dropped out after a semester. I dropped out of college after a semester, and it has worked out great for me. And that's when I realized that college wasn't a necessity. College is worth it for many, but it wasn't for meSo, is college worth it? Based on my experience, I don't want my son to think he doesn't need to go to college.

Our experts answer readers' tax questions and write unbiased product reviews (here's how we assess tax products). While the official date to file taxes this year is April 18, people have the option to postpone and file for an extension instead. See Insider's picks for the best tax software »Insider's Featured Tax Software TurboTaxTax SlayerH&R Block Tax Software Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Editor's Rating 4.2/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.6/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Learn more On TurboTax's website Learn more On Tax Slayer's website Learn more On H&R Block's websiteMyth No. "You can only file for one extension, giving you six more months to file your tax return," he says.

How do I even begin to tackle this mountain of debt on a single income with minimal child support help? Costas is the vice president of EP Wealth Advisors and a certified divorce Financial Analyst. The snowball method is about using small financial achievements to fuel larger ones. The sense of victory you will feel from paying off that small debt will help you feel you've conquered a challenge, which will go a long way in helping you summit the $60,000 mountain of debt in your path. Ways to make your money go furtherKennedy also encouraged you to start saving money while you continue prioritizing paying down debt.

If you're in debt or need help with your taxes, you can often get free help. Some situations may require the help of a financial advisor, and a fee-only advisor can be a good choice. Whether you simply don't want to pay for a help or are unable to, there's good news: Expensive professional help isn't the only way to solve your financial problems. The National Foundation for Credit Counseling provides credit counseling for any income level. Investing for retirementThe Financial Planning Association allows financial planners to provide free advice for families experiencing cancer, households needing help after COVID-19, and more.

☆ Judge chastises Jan. 6 Capitol rioter, a former high-ranking military officer, during sentencing: 'Astounding and atrocious'
▼ + stars: | 2023-03-18 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Air Force veteran who entered Senate chamber on Jan. 6, 2021 was sentenced to two years in prison. Larry R. Brock entered the Capitol building and was seen with zip-tie handcuffs on the Senate floor. US District Judge John Bates described Brock's behavior as "astounding and atrocious." "I think it's especially reprehensible and quite frankly unbelievable coming from a senior military officer," the judge said. The prosecution also stated that Brock sought to unlock a door that had been used by Pence shortly before rioters came into the Senate chamber.

Bad credit could mean paying more than three times as much on a $5,000 loan as someone with good credit. If the 3.5 million Americans taking out loans had bad credit, that difference in interest rate would cost them a cumulative $20 billion. The cost of borrowing money with bad credit adds up fastWe don't know exactly how many borrowers have good and bad credit, so there's no way to be sure how much more Americans with bad credit are paying on the whole. In other words, bad credit could mean Americans would cumulatively pay as much as $20 billion extra this year. A recent Credit Sesame survey of 5,000 adults in the United States also found Black and Hispanic Americans had lower average credit scores than white Americans.

Disability insurance can also cover mental health illnesses like depression or anxiety disorders, and this means a lot to me. Luckily, it's easy to get an individual disability insurance policy on your own at an affordable rate — I did it several years ago. So if you normally bring home $5,000 per month, disability insurance will probably pay you up to 60% of that amount of $3,000. The fact that I have an individual disability insurance policy brings me a lot of comfort. Having disability insurance is giving me more benefits than the cost, so it's a must-have in my book.

Inflation has reduced the value of bonuses that weren't raised by $25.5 billion. That means scores of employees who count on their bonuses lost purchasing power. Here's a look at the potential impact of inflation on bonuses for individual employees and entire sectors. We calculated average bonuses by sector for both years, assuming that bonuses are equal to 11% of an employee's salary, a figure published by job-search platform Zippia. Using the CPI inflation calculator, we found the value of 2021 bonuses a year later to uncover how much employees getting the same size bonus in 2022 lost from inflation.

☆ Is This Painting a Raphael or Not? A Fortune Rides on the Answer
▼ + stars: | 2023-02-17 | by ( Kelly Crow | Photographs Evan Jenkins For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Anthony Ayers had a hunch that he’d found a masterpiece. While vacationing in the English countryside in 1995, Mr. Ayers spotted a dusty, wood-panel painting tucked behind an armoire in an antique shop. It depicts Mary holding an infant Jesus in her lap as her older cousin Elizabeth and a toddler John the Baptist look on lovingly; the backdrop features an oak tree with a goldfinch, an ancient symbol foreshadowing the Crucifixion. The shopkeeper suggested that the painting could be from the Renaissance.

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